A 1.25-acre site on the Miami River at Biscayne Bay changed hands for a stunning $125 million, a record high for a property of its size in South Florida.
The buyer is Riverwalk East Developments LLC, a newly formed Florida limited liability corporation managed through several other corporate entities by German and Gloria Coto. German Coto is the son of Argentine businessman Alfredo Coto, whose family is best known for its prominent Coto supermarket chain; Gloria is Alfredo’s wife.
The land will be destined for a very luxury Real Estate project in collaboration with Aston Martin British carmaker.
The seller was D&P Property Holding, a Florida corporation managed by Miami developers Ugo Colombo and Diego Lowenstein.